China strikes $60 billion of US goods with tariffs in widening trade war

China announced it will take retaliatory tariff action against $60 billion of US goods, sharply escalating the trade war as the Trump administration considers imposing duties on virtually all Chinese imports.

China’s retaliatory tariffs, ranging from 5 per cent to 10 per cent on more than 5,000 items, will take effect on Sept. 24, China’s Ministry of Finance said in a statement posted on its website. Beijing is still ready to negotiate an end to the trade tensions, it said.

At almost the same time the tariff list was released in Beijing, President Donald Trump on Tuesday threatened more counter-measures against China